Work with a dedicated Real Estate Advisor who will take your financial preferences and help you select and acquire properties that fit your criteria. Learn more

1 Montreat Lane Simpsonville, SC 29681

4 Beds 3 Baths - sqft Built 2006

$250,000

List Price

$1,660

$1.5K - $1.8K

Rent Est.

PROPERTY INFO

January 01, 2021 RECENTLY ADDED
FACTS
  • Single Family
  • Built In 2006
  • Price/Sqft : $116.82
  • 3 Days on Market
  • MLS # : 1434375
  • Updated Date : 01/01/2021 at 15:39
CONSTRUCTION
  • Beds : 4
  • Floor Size : '-'
  • Baths : 2 full , 1 half
Listing Agent

Keller Williams Grv Upst

Listing Agent's Description

Welcome Home! This 2 story home is ready for you! Just freshened up with new paint on the inside & new countertops in both the kitchen and bathrooms. As you walk in the home, you'll notice the open floor plan, office area and beautiful natural lighting. The kitchen features gorgeous painted cabinets, new countertop, white subway tile backsplash and stainless steel appliances. You also enjoy counter height seating and a separate breakfast area with views of the backyard and screened porch for those sunny mornings to enjoy. Both areas are open the Great Room which showcases a corner gas log fireplace. Downstairs also offers a half bath for your guests. As you walk up the stairs, you'll enjoy all of your bedrooms and potential recreation space. The expansive master suite features a gorgeous sliding barn door to lead you to the master bath with dual vanity sinks, beautiful updated countertops, garden tub, seperate shower, large master closet and additional storage space. Upstairs also boasts the three additional bedrooms (one of which could be used as a bonus room) that share a hall bath and a laundry room on the 2nd level. At the rear of the home, you'll enjoy a beautiful screened porch that leads to the private fenced backyard. Additional features include a two car attached garage, extensive crown molding and a speaker system installed in the downstairs. If the house isn't enough to entertain you, you can enjoy the neighborhood amenities including swimming pool, club house, common area, playground and much more! What are you waiting for? Come take a look.

SEE MORE

PRICE & RENT TRENDS

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019100k120k140k160k180k200k220k240kPrice in $85k259k

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

Zip Code: 29681

ZipNIR Market*CityMarket2010Year20002019 Q210001100120013001400150016001700Rent in $9171760

* NIR Market: Aggregated price or rent trend of all neighborhoods with same NIR

SCHOOLS

NAME EDUCATIONAL LEVEL SCHOOL TYPE # OF STUDENTS # OF TEACHERS GREATSCHOOLS RATING
Rudolph Gordon Elementary School Primary Regular 748 40 9
Riverside Middle School Middle Regular 1,130 63 10
Mauldin High School High Regular 2,240 108 8

Rudolph Gordon Elementary School

  • Education Level: Primary
  • # of students: 748
  • # of teachers: 40
9
GreatSchools Rating

Riverside Middle School

  • Education Level: Middle
  • # of students: 1,130
  • # of teachers: 63
10
GreatSchools Rating

Mauldin High School

  • Education Level: High
  • # of students: 2,240
  • # of teachers: 108
8
GreatSchools Rating
 

$225,000$275,000$250,000

PURCHASE PRICE

$1,494$1,826$1,660

RENT

DOWN PAYMENT
FINANCING

FINANCIALS

PROJECTED BASIC MONTHLY INCOME STATEMENT

INCOME Rent $1,660
EXPENSES Loan Payment -$922
Property Tax -$300
Property Insurance -$66
Property Management Fees -$133
CASH FLOW
$239

This is the estimated cash flow generated during a typical maintenance-free month. It is recommended that investors set aside 14% of earned rent to cover both maintenance and periods of vacancy.

$250,000

PROJECTED PRICE

$1,660

PROJECTED RENT

0.66%

PROJECTED RENT / PRICE RATIO

ASSUMPTIONS

Expense Inflation 2.50%
Rental Growth Year (1-5) 3.42%
Appreciation Year (1-5) 3.4%
Maintenance Year (1-5) 8.00%
Vacancy 6.12%
Length of Stay Years 2

PROJECTED ACCUMULATED WEALTH

30 YEAR PROJECTION

  • Cash Flow
  • Appreciation
  • Principal
11530$0.0$100k$200k$300k$400k$500k$600k$700k$800k

PROJECTED ANNUAL CASH FLOW

11530$0.0$2.0k$4.0k$6.0k$8.0k$10k$12k$14k

PROJECTED PROPERTY VALUE

30 YEAR PROJECTION

  • Appreciation
  • Principal
  • Loan Balance
11530$0.0$100k$200k$300k$400k$500k$600k

TOTAL CASH OUT OF POCKET

TOTAL OUT OFPOCKET$72,000

INVESTMENT

$72,000

Down Payment
$62,500
Rehab Estimate
$5,750
Closing Costs
$3,750

LOAN DETAILS

25%

DOWN PAYMENT

HOMEUNION RECOMMENDS:

A 35% down payment or higher enables the proceeds from the asset to cover all costs.

$922

MONTHLY LOAN PAYMENT

30 yr
Term
4.25%
Interest
25.00%
Down Payment
Term 30 Years
Interest 4.25%
Down Payment $62,500
Loan Amount $187,500
See What Happens When You Reinvest Cash Flow

9.5

YEARS SAVED

$39,319

INTEREST SAVED

CASH FLOW REINVESTMENT

The time & interest saved by applying each month's positive cash flow towards loan principal pay down.

  • $1,660

    LIST RENT
  • $0.78

    LIST RENT PER SQFT
  • $1,669

    COMP ESTIMATED VALUE
  • $0.78

    COMP AVG. RENT PER SQFT
Comps Range
$1,450
1$1,4502$1,6603$1,8004$1,8005$1,850
$1,850
RENT COMPS ANALYSIS
* Sqft is provided from public sources
  • 1 Montreat Lane Simpsonville, SC 2
    • 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 2006 4 beds 3 baths ∙ 2,140 Sqft ∙ Built 2006
    • Rent
    • Rent Per SQFT
    •  
    • $1,660
    • $0.78
    •  
  • 107 Mercer Drive Simpsonville, SC 1
    • 4 beds 3 baths ∙ 1,992 Sqft ∙ Built 4 beds 3 baths ∙ 1,992 Sqft ∙ Built
    LEASED 01/15/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,450
    • $0.73
    •  
  • 8 Mercer Drive Simpsonville, SC 3
    • 4 beds 3 baths ∙ 2,274 Sqft ∙ Built 4 beds 3 baths ∙ 2,274 Sqft ∙ Built
    LEASED 02/11/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.79
    •  
  • 27 Meadowrise Lane Simpsonville, SC 4
    • 4 beds 3 baths ∙ 2,201 Sqft ∙ Built 4 beds 3 baths ∙ 2,201 Sqft ∙ Built
    LEASED 04/28/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,800
    • $0.82
    •  
  • 109 Meadow Blossom Way Simpsonville, SC 5
    • 5 beds 3 baths ∙ 2,373 Sqft ∙ Built 5 beds 3 baths ∙ 2,373 Sqft ∙ Built
    LEASED 03/20/20
    • Rent
    • Rent Per SQFT
    •  
    • $1,850
    • $0.78
    •  
PROPERTY LISTING DETAILS
Dan Hamilton
1.864.527.7685
Keller Williams Grv Upst
Lauren Taylor
1.866.250.5610
Homeunion SC LLC
21064
( GGARMLS)
MLS #: 1434375
Last Updated: 01/01/2021
BESbswy